Magwanishe arrives in Angola for trade and investment mission

Created: Thursday, 19 July 2018 06:58

The business delegation consists of 20 South African companies funded by the dti. (Image source: GovernmentZA/ Flickr) The South African business delegation led by the deputy minister of trade and industry, Bulelani Magwanishe, has arrived in Angola for a five-day trade and investment mission

The mission will take place from 17-21 July 2018.

Addressing the delegation upon their arrival, Fannie Phakola, South African ambassador to Angola, said, “These developments are encouraging gestures by the Angolan government to the South African business fraternity. I urge the business delegation to respond positively to the economic opportunities that have been made available. The Angolan government is undertaking reforms in the political arena as well as institutionalising economic changes aimed at aggressively diversifying the economy away from traditional reliance on oil as well as opening up the economy for international companies to enter the market as solely owned foreign entities.”

Magwanishe said that the mission aims to solidify economic collaboration and partnerships with African countries for the realisation of higher levels of industrialisation through sustainable trade and investment.

He further added that he anticipated an increase in trade and investment between South Africa and Angola, the strengthening of existing relations between the two countries and the formation of commercial partnerships and joint ventures as a result of this mission.

The business delegation consists of 20 South African companies funded by the dti. These companies represent the aerospace and defence, built environment professionals, mining products and services and infrastructure sectors. The mission will include a trade and investment seminar, targeted business-to-business meetings and sector-specific site visits.